Expectations were for the company to report earnings per share of
$0.45 on revenue of $2.61 billion, according to data from
Yahoo Finance.

In premarket trade Tuesday following the results, Alibaba shares
were up as much as 4% to a new high of more than $106 per
share.

On a year-over-year basis, Alibaba reported non-GAAP net income
that rose 15.5% to $1.11 billion.

Alibaba said the gross merchandise value transacted on
its China retail marketplaces in the quarter was $90.5
billion, up about 49% from the previous year.

This was composed of $61.9 billion on its Taobao
marketplace, up 38% from last year, and $28.6 billion on Tmall, a
nearly 78% increase. The company said this growth was primarily
driven by an increase in number of active buyers.

Alibaba is set to
host a conference call to discuss its results at 7:30 a.m.
ET.

In a
releaseJonathan Lu, chief executive officer of
Alibaba Group, said: "Our business continues to perform well, and
our results reflect both the strength of our ecosystem and the
strong foundation we have for sustainable growth. On our China
retail marketplaces, gross merchandise volume for the quarter
increased 49% and annual active buyers increased 52% year on
year. We extended our unrivaled leadership in mobile with 217
million monthly active users on our mobile commerce apps in
September and US$95 billion in mobile GMV for the twelve months
ended September 2014. We are also encouraged by continued
improvement of mobile monetization which demonstrates the strong
commercial intent of our users."